U.S. President Donald Trump has sharply criticized Elon Musk following the billionaire’s announcement of a new political party, labeling the decision as “ridiculous” and claiming Musk has completely lost his way.
In a post shared on Truth Social on Sunday evening, Trump expressed his disappointment, stating, “I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRECK over the past five weeks.” He emphasized that third parties often induce “complete and total disruption and chaos.”
“By a factor of 2 to 1, you want a new political party and you shall have it!” Musk stated, adding, “Today, the America Party is formed to give you back your freedom.”
The rift between Musk and Trump originated from disputes regarding federal spending, leading to a significant shift in their previously close relationship. Musk had previously donated millions to support Trump’s re-election campaign and was appointed by Trump to spearhead the Department of Government Efficiency, designed to identify areas for federal budget reductions.
Trump remarked, “I think it’s ridiculous to start a third party. We have a tremendous success with the Republican Party. The Democrats have lost their way, but it’s always been a two-party system, and I think starting a third party just adds to confusion,” as reported by Reuters following Musk’s announcement.
Moreover, Trump criticized Musk’s advocacy for an “Electric Vehicle Mandate,” indicating that such a mandate would have forced the public to switch to electric vehicles in a very short timeline.
The recently signed tax and spending cut bill by Trump, effective July 4, eliminated tax credits available to electric vehicle buyers.
In his Truth Social post, Trump recounted his prior discussions with Musk during his presidential campaign in which he clarified his intention to terminate the EV tax credit if re-elected.
“When Elon gave me his total and unquestioned Endorsement, I asked him whether or not he knew that I was going to terminate the EV Mandate – It was in every speech I made, and in every conversation I had. He said he had no problems with that,” Trump stated.
Musk’s announcement has drawn backlash from Trump’s associates, including James Fishback, CEO of investment firm Invest Azoria, who revealed he has deferred an initial public offering of the Azoria Tesla Convexity ETF, citing Musk’s new political endeavor as the direct cause.
Fishback remarked, “This creates a conflict with his full-time responsibilities as CEO of Tesla. It diverts his focus and energy away from Tesla’s employees and shareholders,” in a post on X.
